New Orleans Multifamily
For Sale
$399,500
3212 MILAN Street, New Orleans, LA 70125
MULTI_FAMILY - New Orleans, LA
Property Size1,764 SF
Lot Size0.17 Acres
Price / SF$226.47
Days on Market489
Property Features for 3212 MILAN Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Exterior features
Driveway Permeable Surface, Fence, Porch
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
614344507
Size
1,764 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
SQ 721 LOTS 9 10 67X110
Legal Description
SQ 721 LOTS 9 10 67X110
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
Galiano Realty
(504) 256-6311
Listed By:
Herbert Kaufman
(504) 256-6311
Added: Mar 30, 2025
Changed: Jul 30
Last Checked: Jul 31 at 10:06AM
MLS# 2494139
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property in New Orleans, Louisiana, presents an opportunity with a main house featuring 2 bedrooms and 2 bathrooms, complemented by a guest house that includes 2 bedrooms and 1 bathroom. Situated on an oversized double lot of 0.1692 acres, the property offers a total of 1764 square feet of living space. The main house is enhanced with crown molding, granite countertops in the kitchen, and high ceilings. The property also features a den. The roof is approximately 3 years old and includes new A/C duct work. The guest house has the potential to generate income, which could assist with mortgage payments. The property includes a large front and back yard, along with gated off-street parking.
Key Highlights
- Oversized double lot with main house plus a separate 2BR/1BA guest house
- Main house offers 2 bedrooms and 2 bathrooms with high ceilings, crown molding, and a den
- Kitchen features granite countertops
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.9k | $19.80 |
| − Vacancy | −$3.0k | −$1.71 |
| EGI | $31.9k | $18.09 |
| − OpEx | −$9.6k | −$5.43 |
| NOI | $22.3k | $12.66 |
1,764 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$319.1K
$279.2K – $372.3K
NOI $22,337 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$293.3K
$256.6K – $342.2K
NOI $20,531 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$448.4K
$392.3K – $523.1K
NOI $31,385 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,697
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Multifamily property with main house and guest house.
Where is this duplex located?
The property is located at 3212 MILAN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: Oversized double lot with main house plus a separate 2BR/1BA guest house; Main house offers 2 bedrooms and 2 bathrooms with high ceilings, crown molding, and a den; Kitchen features granite countertops
